A trend constantly evolving in today’s senior housing market? Upgrades. Whether it’s the amenities, services or design, these developments are seeing major changes in order to ahead of the growing competition.
It’s no breaking news that in recent years the market has seen an increase in construction projects for these types of properties. Why? Because conditions have changed and people checking-in to these facilities aren’t necessarily doing it because they need assistance, but rather, because it’s appealing, convenient and helpful, among other reasons.
At Illinois Real Estate Journal‘s Chicagoland Senior Housing Real Estate Conference, Nov. 15 at the Gleacher Center Chicago, two panels of experts dished on what they’ve been seeing in today’s market and opportunities in the sector.
Sharon Gorrell, housing Policy Advisor at Illinois REALTORS, kick-started the event with an introduction presentation leading up to the two panels.
The “Segmented Solutions in the Market” panel talked design, construction, management and legal issues. Barry Kozak, adjunct professor at Loyola University, moderated the conversation that consisted of: Robert Helle, Pathways Senior Living, LLC; Todd Wiltse, Worn Jerabek Wiltse Architects, P.C.; Douglas Antonio, Sugar Felsenthal Grais & Hammer LLP; and Mark Yanik, Leopardo Companies, Inc.
The “Investment Outlook” panel, moderated by George Mesires, a partner at Faegre Baker Daniels LLP, directed the attention to development and financing opportunities in senior housing. Panelists included: Steve Anderson, Capital One Healthcare; Jeffrey Davis, Cambridge Realty Capital Companies; Kevin Carden, REDICO; and Mike Taylor, First Midwest Bank.
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